There is a old saying: Birds of a feather flock together. It seems that's what Intel, Microsoft and Cisco stock are doing in US stock market
US markets have been very volatile in last 3 months but here are 3 three stocks which are charting their own path and ready to breakout from previous resistances or to new highs. These three stocks seem to be flying together.
Microsoft Weekly Chart
As you can see in the chart above: Microsoft is set to breakout to new multi year high.
As you can see in the chart above: Intel has almost broken out on daily chart.
As you can see in the chart above: Cisco also breaking out.
What does this mean?
If US market continues to remain bullish after all this turbulence, then new leadership seems to be emerging. These are the three stocks that can outperform in days and weeks to come. If you do not follow US market, even then this article can be of great help to understand how market structure works. I will write an update few weeks down the road on what actually happened. Please consider this for learning experience.
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Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers